Photo: Drew Angerer/Getty Images

The Republican tax law has rerouted billions of dollars from the federal treasury into the bank accounts of health care companies and Wall Street investors.

By the numbers: These are some of the tax savings that have been calculated so far in 2018, according to my analysis of Q3 earnings reports.

  • UnitedHealth Group: $1.1 billion
  • Bristol-Myers Squibb: $463 million
  • Johnson & Johnson: $430 million
  • Gilead: $413 million
  • Biogen: $118 million
  • Universal Health Services: $92 million

Details: These numbers were calculated by taking each company’s effective tax rate from the first 9 months of 2017 and applying it toward operating profits in the first 9 months of 2018.

  • The difference between that number and the amount the company actually paid so far this year, under a lower rate, equals an estimated total savings.

The bottom line: Some companies have had similar or even higher tax bills this year compared with last year. But these 6 companies alone have reaped $2.6 billion from the lower corporate tax rate — a haul that has more than paid for any lobbying to get the law across the finish line.

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Updated 6 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Eniola Odetunde/Axios

  1. Global: Total confirmed cases as of 5 p.m. ET: 11,520,461 — Total deaths: 535,499 — Total recoveries — 6,231,052Map.
  2. U.S.: Total confirmed cases as of 5 p.m. ET: 2,911,888 — Total deaths: 130,101 — Total recoveries: 906,763 — Total tested: 35,515,075Map.
  3. Public health: Case growth outpacing testing in hotspots.
  4. States: West Virginia becomes latest state to mandate facial coverings in public.
  5. Politics: Cuomo accuses Trump of "enabling" the coronavirus surge — Sen. Chuck Grassley opts out of attending GOP convention over coronavirus concerns.

Trump ramps up culture war attacks

Photo: Tasos Katopodis/Getty Images

President Trump's attacks are spreading to sports that are cornerstones of rural, conservative white American life.

Why it matters: The culture war that engulfed the NBA and NFL is reaching other major leagues, with teams that stonewalled activists for years suddenly showing a willingness to listen.

Foreign students could be forced to leave U.S. if colleges move online

Harvard University campus in April 2020. Photo: Maddie Meyer/Getty Images

Foreign college students could be forced to leave the U.S. or transfer schools if their universities move classes entirely online this fall, according to guidance released by Immigration and Customs Enforcement (ICE) on Monday.

Why it matters: Several U.S. colleges and universities — most recently Harvard — have announced plans to move most or all courses online this fall due to coronavirus concerns. Many institutions rely heavily on tuition from international students.